In recent decades, an MBA programme has emerged as the most popular educational option for individuals passionate about business.
Recent years have seen a rise in the number of people pursuing an MBA degree in foreign countries like the UK, the USA, Germany, Australia and Canada.
To earn an MBA, one must enrol in an MBA programme at a university or business school in a foreign country.
MBA includes various management subjects, including marketing, finance, operations, human resources, etc.
There are various types of MBAs abroad that you can apply according to your goal, such as full-time, part-time, online, and executive. The intakes that are offered by the abroad universities are Fall, Spring and Summer intakes.
The average tuition fee for pursuing the course is 23L INR, and after completing the course, you can expect an average salary of 7L INR.
Explore the key features of pursuing an MBA abroad below.
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| Feature | Information |
| Total Number of Universities | More than 950 universities |
| Best Countries to pursue MBA | UK USA Australia Germany Canada |
| Courses Available | General Management Finance Human Resources Accounting |
| Duration | 2-3 years |
| Exams Required | IELTS TOEFL GRE GMAT |
| Annual Tuition Fees | 23 lakhs INR |
| Average Salary per annum | 7 lakhs INR |
| Intakes Available | Fall (September to December) Spring (January to May) Summer (May to August) |
| Top Universities | Stanford Graduate School of Business Harvard Business School MIT University of Pennsylvania |
| Top Scholarships | Fulbright Scholarship, Chevening Scholarship, the Gates Scholarship |
| Top Career Opportunities | Assistant B.D. Manager, Business Development Manager, General Manager, Project Manager, Strategy Manager |
Benefits of Studying MBA Abroad for Indian Students
Let’s explore some significant benefits of studying MBA abroad for Indian students.
a) Gain Practical Knowledge
An MBA from a foreign school can give you valuable skills for real-world business challenges. It sets you apart with advanced management abilities applicable in practical situations.
b) Career Advancement:
After finishing studies at a respected international business school, students can aim for top roles in leading companies. Whether they become entrepreneurs, solidify their careers in a different field, or diversify, an MBA from a foreign school helps them take significant steps forward in their professional lives.
c) Improved Networking Opportunities
Indian MBA students can build connections with expert teachers, diverse classmates, and potential employers from various backgrounds. This network can open doors to promising opportunities in the future, providing valuable insights into the ever-changing business landscape.
d) Higher Income Potential
Choosing a foreign business school for your MBA increases the likelihood of a higher salary than graduating from an Indian business school. The average pay for MBA graduates from reputable foreign schools is more significant.
e) See the Business World from Different Angles
Studying close to experts and businesses helps students comprehensively understand the dynamic business world. It challenges their skills and teaches the fundamentals of business management.
Best MBA Colleges in the World for Indian Students
Choosing a top university for an MBA abroad is a significant decision for students seeking an advanced business education.
The universities offer rigorous MBA programs focusing on leadership, innovation, and practical skills.
Additionally, INSEAD in France and London Business School in the UK are renowned for their diverse student body and strong global networks.
Here are the Top 10 Universities to study for an MBA abroad.
| University Name | QS World University Rankings 2024 | Annual Tuition Fees (INR) |
| Stanford Graduate School of Business | 1 | 60 lakhs INR |
| Harvard Business School | 2 | 65 lakhs INR |
| University of Pennsylvania | 3 | 50 lakhs INR |
| HEC Paris | 4 | 22 lakhs INR |
| London Business School | 5 | 45 lakhs INR |
| MIT | 6 | 25 lakhs INR |
| IE Business School | 7 | 45 lakhs INR |
| Columbia Business School | 8 | 50 lakhs INR |
| INSEAD | 9 | 55 lakhs INR |
| IESE Business School | 10 | 37 lakhs INR |
Top Programs in MBA Abroad
Several universities provide opportunities for networking with industry leaders, exposure to diverse business environments, and access to cutting-edge research.
When selecting a university, aspiring MBA students often consider factors like faculty expertise, alumni success, and program flexibility.
Overall, the top MBA programs abroad offer a rich academic experience and a pathway to a successful and rewarding career in the business world.
Below are the popular programs in the top 10 universities for studying MBA abroad.
| University Name | Programs Offered |
| Stanford Graduate School of Business | General Management Business (others) Finance |
| Harvard Business School | General Management International Business Human Resources |
| University of Pennsylvania | General Management Human Resources Economics |
| HEC Paris | General Management Business (others) Finance |
| London Business School | Human Resources Economics Finance |
| MIT | General Management International Business Human Resources |
| IE Business School | Business Analytics Accounting Marketing |
| Columbia Business School | General Management International Business Human Resources |
| INSEAD | General Management Human Resources Economics |
| IESE Business School | General Management Business (others) Finance |
Eligibility Criteria for Studying MBA Abroad
Let’s explore the requirements for pursuing an MBA abroad.
Educational Qualifications:
- Hold a bachelor’s degree in MBA with at least 60% from recognised universities.
- Maintain a GPA of 3.0 or above on a scale of 4.0 for an MBA degree.
English Language Proficiency:
- If English is not your first language, you need to show your proficiency by achieving minimum scores in language tests:
GRE or GMAT Scores:
- Some universities may require scores from GRE or GMAT for studying MBA abroad:
Work Experience:
- After your qualification, having at least two years of experience is essential for postgraduate programs.
Passport and Visa:
- If you’re an Indian student, you’ll need a visa and passport for admission to international universities.
- Applying for a student visa at least three months before your planned travel is advisable.
Documents Required for Studying MBA Abroad
When applying for an MBA abroad, ensure you have all the required documents ready—the requirements for studying an MBA abroad.
1. Academic transcripts
2. Original certificates from the university
3. Scorecards for English Language Proficiency (ELP) and GRE or GMAT
4. Statement of purpose
5. Letter of recommendation
6. Resume or CV
7. Copy of your passport
8. Proof of your financial resources
9. Visa to study abroad.
Preparing these documents is essential to completing your application for an MBA abroad.
Application Process for Studying MBA Abroad
Now, let’s look at the application process for MBA programmes abroad.
- It is necessary to identify the university that provides MBA courses.
- Once you have chosen an institution, you should go to the official website of that university to check out all of the prerequisites.
- You must fill out the application form and pay the required application costs.
- You must submit all of your documentation before the deadline for the application.
- If you are invited, you should attend interviews at the institution.
- After the interviews, you will need to wait for the notice of application and make arrangements for the necessary funds to pay the deposit for the university.
Average Cost of Living Abroad
While abroad, you must pay for your living expenses and the fees associated with the MBA course you are doing. It is believed that the cost of living for Indian students studying abroad ranges from 50k INR to 2 lakh INR per month.
The vital necessities included in this category are housing, food, stationery, transportation, educational materials, and other essential products. If you know these aspects, you can budget your money and ensure your time abroad.
Here are the average living costs for various expenditures in a foreign country.
| Type of Expense | Cost of Living (INR) |
| Accommodation | 45,000 |
| Food | 15,000 |
| Transport | 7,000 |
| Books & Supplies | 3,000 |
| Miscellaneous (Internet, Health Insurance, Entertainment) | 13,000 |
Top 10 Scholarships for Studying MBA Abroad
Embarking on an MBA abroad is an exciting journey, and scholarships can make it more accessible. Here, we’ll discuss some top scholarships to help you pursue your dream of studying abroad for an MBA.
Here are the top 10 Scholarships for studying MBA abroad.
| Scholarship Name | Scholarship Amount (INR) |
| Fulbright Scholarship | Varies |
| Chevening Scholarship | 31 lakhs INR |
| Rotary Foundation Global Grant | 27 lakhs INR |
| Commonwealth Scholarship and Fellowship Plan (CSFP) | 31 lakhs INR |
| Erasmus Mundus Scholarships | 35 lakhs INR |
| Stanford Reliance Dhirubhai Fellowship | 70 lakhs INR |
| Asian Development Bank – Japan Scholarship Program | 47 lakhs INR |
| INSEAD MBA Scholarships | 9 lakhs INR |
| The Gates Scholarship | 8.3 crore INR |
| Eiffel Excellence Scholarship Program | 21 lakhs INR |
1. Fulbright Scholarship:
The Fulbright Scholarship is a well-known program that supports international students, including those pursuing an MBA. It covers tuition, living expenses, and even travel costs, making it a comprehensive financial aid option.
2. Chevening Scholarship:
The UK government offers the Chevening Scholarship to students from various countries. If you aim to pursue an MBA in the UK, this scholarship can cover your tuition fees, living expenses, and sometimes, even return flights.
3. Rotary Foundation Global Grant:
The Rotary Foundation provides this grant, which is ideal for students committed to community service. It supports individuals pursuing graduate-level studies, including MBAs, and focuses on fostering goodwill and understanding worldwide.
4. Commonwealth Scholarship and Fellowship Plan (CSFP):
The CSFP is for citizens of Commonwealth countries, offering financial aid for various academic programs, including MBAs. It aims to promote cultural exchange and educational collaboration among Commonwealth nations.
5. Erasmus Mundus Scholarships:
If you’re eyeing an MBA in Europe, the Erasmus Mundus Scholarships can significantly help. These scholarships cover tuition fees, travel expenses, and even a monthly allowance for living costs.
6. Stanford Reliance Dhirubhai Fellowship:
Stanford Graduate School of Business offers this fellowship for students connected to India. It covers the total tuition and associated fees for the two-year MBA program.
7. Asian Development Bank – Japan Scholarship Program:
This scholarship is for students from ADB’s developing member countries, supporting an MBA in economics, management, science, and technology. It includes tuition, a monthly allowance, and other benefits.
8. INSEAD MBA Scholarships:
INSEAD, a prestigious business school, offers various scholarships based on merit, nationality, and other criteria.
9. The Gates Scholarship:
Bill and Melinda Gates founded this scholarship aimed at outstanding minority students. While it mainly focuses on undergraduate education, it’s worth exploring for those pursuing advanced degrees like an MBA.
10. Eiffel Excellence Scholarship Program:
This French government scholarship supports international students, including those pursuing an MBA, focusing on excellence in academic performance.
Remember, each scholarship has its own criteria and application process, so it’s crucial to research thoroughly and apply generously to increase your chances of securing financial aid for your MBA abroad.
Scope of MBA Abroad for Indian Students
Studying abroad provides ample chances to build a global network. Interacting with students from different countries and professionals in the industry can create valuable connections for future career prospects.
An MBA from a foreign university can make Indian students more appealing to international employers. It broadens the scope of job opportunities, both abroad and back home.
Some popular job prospects for MBA abroad are listed below.
| Job Prospect | Average Salary (INR) |
| Assistant B.D. Manager | 45 lakhs |
| Business Development Manager | 90 lakhs |
| General Manager | 75 lakhs |
| Project Manager | 95 lakhs |
| Strategy Manager | 98 lakhs |
Wrapping Up
In conclusion, pursuing an MBA abroad can be rewarding for Indian students. It offers a chance to experience diverse cultures.
While the process may involve challenges like adapting to a new environment, the long-term benefits, including enhanced career opportunities and personal growth, make it a valuable investment.
By broadening their horizons and acquiring international business skills, Indian students can contribute meaningfully to the global workforce. Ultimately, an MBA abroad opens doors to a brighter future, fostering professional and personal development.
Leap Scholar offers a variety of flexible study alternatives and works in collaboration with prominent international colleges to assist you in achieving your dreams of obtaining an education in a foreign country.
Get in touch with Leap Scholar counsellors right away for any additional information.
Frequently Asked Questions
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Q. What is an MBA degree?
A. MBA is an abbreviation for the Master of Business Administration degree. Providing students with a complete understanding of the many facets of company operations and providing them with the expertise necessary to flourish in the business world is an excellent educational opportunity.
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Q. Why should students from India think about pursuing their MBA in a foreign country?
A. Students from India who pursue a Master of Business Administration degree overseas are allowed to get a global perspective, experience various cultures, and learn from renowned foreign faculty members. It will enable students to broaden their network by connecting with classmates from all over the world, which can be beneficial for future business collaborations and chances in the field of employment.
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Q. Generally, how long does it take to complete an MBA programme?
A. MBA programmes in other countries typically last two years. On the other hand, several educational institutions provide expedited programmes that can be finished in a single year. The time may change depending on the country as well as the particular curriculum of the programme.
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Q. What are the requirements to be eligible to pursue an MBA in another country?
A. The eligibility requirements may vary from one university to another. Most of the time, applicants must have a bachelor’s degree or equivalent in any field and an adequate academic record. Applicants to some colleges may be required to verify their English language skills by taking standardised tests such as the TOEFL or the IELTS.
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Q. If Indian students are interested in obtaining a Master of Business Administration degree in another country, are any scholarships available?
A. The answer is yes; several scholarships are expressly designed for Indian students interested in pursuing an MBA in another country. Scholarships like these are made available by universities, governments, and a variety of organisations to provide financial assistance to students from India who are bright and to encourage diversity in the classroom.
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Q. When applying to MBA programmes in other countries, do Indian students need to take any entrance exams?
A. For admission into their Master of Business Administration (MBA) programmes, numerous universities outside India require Indian students to take tests such as the GMAT or the GRE. On the other hand, the need could differ from one university to another; therefore, it is vital to check each institution’s exact entrance exam requirements.
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Q. Is it required to have previous work experience before applying for a Master of Business Administration programme in another country?
A. Work experience is highly prized, even though it is not usually required for all MBA programmes in other countries. Many educational institutions prefer candidates with relevant job experience because it contributes to classroom discussions and improves the learning experience for the individual and their classmates.
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Q. What expenses are associated with pursuing a Master of Business Administration degree in a foreign country?
A. The cost of obtaining a Master of Business Administration programme in a foreign nation might vary significantly based on the country, university, and programme. Various charges must be considered, including educational fees, living expenses, and other miscellaneous costs. On the other hand, chances for part-time jobs, scholarships, and grants can assist in reducing some of the financial constraints experienced.
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Q. To what extent are degrees earned in India recognised worldwide after completing an MBA in another country?
A. In general, Indian degrees are recognised internationally after completing an MBA in a foreign country. It is vital to select authorised universities. Furthermore, students can increase their employability by participating in extracurricular activities, networking, and internships while enrolled in an MBA programme.
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Q. What professional opportunities are available to Indian students who have completed their MBA in a foreign country?
A. The pursuit of an MBA degree outside of India enables students to access a wide range of professional prospects in domestic and international corporations. After graduation, graduates frequently have access to jobs in various industries, including leadership roles, managerial positions, and consulting positions. The programme allows participants to obtain foreign experience, which increases their employability and opens the road to a successful career.
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Q. Are international students allowed to hold a job when studying for an MBA overseas?
A. Overseas students can work while attending school in several countries, provided they satisfy specific requirements and comply with the legislation governing work permits. Obtaining practical experience, earning an income, and improving their CVs are all benefits that students may gain through part-time jobs or internships.
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Q. How can students from India prepare for the cultural shift they will experience while studying for an MBA abroad?
A. Indian students can participate in pre-departure orientation programmes that universities provide to prepare for the cultural transfer. They can also make contact with students from their own country who have studied in other countries, whether they are currently enrolled or have graduated in the past. Students benefit from becoming acquainted with the culture, habits, and local practices of the nation where they will be studying.
